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Default of Cheque bounce n friendly loan
26-Aug-2023 (In Cheque Bounce Law)
I took 4 lacs advance from friends as I was in need. he gave me his credit cards for use, i was suppose to pay the credit card bill directly. they also charged me interest up to 5% for this friendly loan. I gave 3 cheque for security. We do not have any formal agreement.
Due to increasing interest i failed to pay the credit card bill and 5% interest to my friend from last 3 month.
Now, 1) he is threatening me to file police case for fraud.
2) he is threatening to file legal case under 138.(cheque yet not deposited)
3) I have left the city but they are threatening my family.
4) Currently my business is closed, so no source of income.
Please advise me legal options available to me.
first you give a letter to bank to stop payment of three cheque which was given to your friend. Then you can also file a police complain against your friend for taking huge interest without any license. and your family members also file a police complain against your friend .
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Adv. Nilesh Vekaria
Rajkot | 25+ Answers
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